Focusing On The Follow Up
Hello again!
The spring tradeshow season is in full swing and many companies are engrossed in making sure that their main event is successful. But what happens after the tradeshow? Surprisingly, a staggering 80 percent of leads generated during tradeshow events do not receive follow up and are left untouched. Potentially, that’s 80 percent of new business opportunities lost for good!
So, I thought I’d share some tips to help turn leads into profit and increase ROI of your tradeshow campaign.
Organize a Lead Management Strategy
Capturing and qualifying leads is a crucial part of many companies’ tradeshow campaign. However, much of the time spent planning tradeshow events rarely include determining strategies to manage and distribute incoming leads.
Start by defining a system to organize leads during the show. Whether that means assigning a person to be the ‘gate keeper’ for all business cards and notes collected, or implementing a simple filing system for contacts, keeping your leads organized and in a central location will ensure that each opportunity makes it back to the office.
Then, determine criteria to qualify leads. What information does the sales team need to move on to the next step of contacting leads? What’s the best way to gather that information and preserve it for the sales team?
Acknowledge Receipt of Leads
Many tradeshow industry experts state that leads not followed up within 48 hours of the event will most likely never be contacted. Start communication right away with an email blast or direct mail piece thanking them for their visit.
Keep in mind with this first touch-point, we’ve found that your creative and offer play a large role in the response rate. Providing a promotional incentive, free whitepapers or access to an online video is a great way to give your lead something in return for their response. It may also become a quick conversational point for your sales team to use when starting one-to-one contact with a lead.
Qualify and Assign Value to Each Lead
Upon returning from a tradeshow event, immediately sit down with your marketing and sales team to prioritize leads. Assign value to each lead and establish a plan of attack that best fits each opportunity. In addition, make sure there is a system of accountability in place with your sales team. There should be mechanisms in place to track the progress of each lead.
Be Persistent with Follow Up for All Leads
Don’t discard leads that do not immediately turn into sales. According to a report by the Marketing Management Journal, 45 percent of business contact requests eventually convert to a sale. Fold these tradeshow leads into your contact database and keep in touch.
In closing, be consistent and use these tips to maximize your company’s tradeshow experience and return on investment. I guarantee you’ll find extra value by focusing on these leads. Hope this helps.
Take care,
Steve